A subsidiary of CleanSpark sold notes with a principal of $2,276.0 million, about $2.28 billion, on 25 September, the company told US regulators the same day [1].
CleanSpark's last annual report describes it as "a data center developer, until recently focused exclusively on bitcoin mining" [2].
The notes pay 7.875% a year and fall due in 2031. They were sold at 98.5% of their face value to large institutional investors, not to the public [1].
What it measures
The figure is what the subsidiary owes, not what it received after the discount [1].
The money is to finish the Sandersville Facility, which the filing calls a data center facility in Sandersville, Georgia. It also repays CleanSpark for earlier spending on the site and funds reserves for the debt [1].
What it does not tell you
The filing gives neither the facility's total cost nor its power supply. It does not say whether the building will mine bitcoin or do other computing work [1].
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